Business
Expert Tasks FG On Domestic Market Dev
Programmes Manager,
Nigeria Opportunities Industrialisation Centres (NOIC), Mr Abraham Adeleko, has urged the Federal Government to assist local industries to explore domestic retail opportunities.
Adeleko told newsmen in Lagos that strong industrial and agricultural sector would make local retailing business beneficial to the economy.
Adeleko said that prospects of domestic retail business in Nigeria could be maximised through the establishment of vibrant local industries.
“Retailing business is good for the economy but should be backed with a robust industry or else at the end of the day, we will end up settling for other countries.
“Presently, we are import dependent. Imagine, I don’t think we have needle produced in Nigeria. Most of the goods we have in retailing stores are imported.
“This is not beneficial for our economy. The country can gain a lot from maximising the platform of retailing which contributes a huge amount to the nation’s economy,” he said.
He said that foreign retailing chain stores were interested in the Nigerian market, thus the need to be well positioned to exploit the opportunity.
The manager said that NOIC, in collaboration with its parent body, Opportunities Industrialisation Centres (OIC), International and Walmart Foundation, USA, had embarked on measures to boost youth employment in Nigeria.